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Bad Credit Credit Cards

A couple of the authors on this site have been through some rough patches, and I am one of them. My credit rating has been awful at times and I have experienced the feeling of having applications rejected for credit cards and loans. Fortunately, I am a survivor that has beaten those issues and now have an incredible credit score. Pulling myself out of debt was not an easy task but I can honestly say it was an amazing and incredibly worthwhile experience.

If you’re searching for bad credit credit cards, you most likely have to rebuild your credit. You can use this article as a guide to assist you in doing that quickly and before you know it you’ll have all the cards you could possibly want or need.

Secured Credit Cards

When I began to stand on my own again, I quickly found out that normal credit cards weren’t available to me. I put in three or four applications and was denied constantly. After being refused by all of them, I thought it was hopeless, but I did some research and gathered tons of information on credit Finally, I came across secured credit cards after searching for what seemed like ages. In the beginning, I was irritated by the idea of having to put a deposit down. I just couldn’t make sense out of the idea of paying interest when I had paid a deposit. Eventually, I came to the conclusion that these cards are a necessary credit building tool for me.

I paid the $300 deposit and received my secured credit card. After making payments for a couple of months on-time, I chose to get another secured credit card. Not very long after that I began receiving invitations to apply for unsecured cards and things grew from there. Since that time, I’ve made my payments on-time and my credit rating is incredible – it’s almost 800.

There are lots of bad credit credit cards available and I had a hard time deciding on the right one. I did a lot of researching and then chose the card that had the lowest interest rate. I wasn’t that concerned since I knew it was just a temporary card. I felt it was important to find a creditable company and received my card from HSBC which was what I wanted and was successful for me. Now I carry Bank of America, American Express and Chase cards with them.

Bad credit credit cards are actually excellent tools, however you want to move to unsecured as quickly as possible. The interest rate on secured cards is usually higher than 20%. The cards I carry today have rates around 13% and this rate is more affordable.

If you begin with a secured credit card, these are a few easy guidelines to follow:

#1 Pay your complete balance off monthly. #2 As soon as you can make the trasition to unsecured. #3 Ask for larger credit limits when they are available, but don’t spend more and pay off your balance monthly. #4 Bargain for lower interest rates. #5 Don’t cancel open credit cards. The time period of your credit history is incredibly critical in regards to your credit rating. #6 Search for competitive rates before accepting an account. Look at numerous offers first.

About The Author

Ben Todd

Ben was a seriously broke graduate student with bad credit who after finding himself rejected for any sort of credit card or loan for most of his adult life, finally decided to get his financial life in order. 'He spent several years reading as many financial advice books and blogs as he could.And suprisingly, Ben found he actually LIKED the topic of personal finance; after fixing his own finances, starting his own successful work at home website business, and using his earnings to get out of debt, created echeck.org to help others do likewise!

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